The Role of Accounting in the Medical Office

Medical office which are relating to health care organisation. All these organisations are doing the work in medical and surgery of human body and other animals. Accounting helps to manage its all financial record proper way.

Following points help us to understand the role of accounting in medical office.

1. To Know Patient's Balance 

Every medical office must have accounting department. It records what received from patients. Suppose, a Govt. medical office where there is some subsidy. So, this surplus balance can only be calculated and returned to customer, if medical office has complete the record of each patient. For example, you are senior citizen. In your country, there is 20% subsidy of your advance payment for medical treatment in any Govt. medical office. When you will pay advance. It will record in accounting system. Now, it will be very easy to refund the subsidy to patient.

2. Inspection

Many countries, there is the inspection department. Because this health care department. So, it has some standards to collect fees from patients. Any time, inspection department can check all govt. and private medical office's records for inquiry whether it is taking fees as per standards or not.

3. For Analysis

Time to time, medical office needs to take decision for its growth. With proper accounting records, medical office knows its performance. If it is giving good performance on the basis of revenue. Medical office can use this fund for growth. Otherwise big investment decision is not intelligency.

4. For Reducing the Cost 

Medical office helps society due to its welfare of humanity. So, reducing the cost, it has to check its accounting records. For example, An India medical office is taking RS. 2,00,000 simple surgical operation. But it has seen the number of operations are increased 40%. For, increasing operations 60% more, it can reduce operation cost 10%. So, all such decisions can be taken on the basis of accounting.

5. For Patients 

There is big role of accounting for patients. Sometime, patients needs his treatment records and bills. If there is accounting of each bill, it will be easy to provide for patients.

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Accounting Education: The Role of Accounting in the Medical Office
The Role of Accounting in the Medical Office
Accounting Education
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